On July 31, 2024, Wind data showed that the three major stock indexes rebounded sharply, with the turnover of the Shanghai and Shenzhen stock markets rebounding to more than 900 billion yuan, and the number of rising stocks exceeded 5,000. Securities, medical services, big finance, hard technology and other sectors have risen in an all-round way; The green power sector pulled back slightly.
In terms of gains, the fintech ETF ChinaAMC (516100) led the rise by more than 7%
Specifically, the fintech ETF ChinaAMC (516100) rose by 7.08%, and the science and technology chip ETF Southern (588890) rose by 6.62%. Fintech ETF (516860) and Fintech ETF (159851) rose more than 6%. The Science and Technology Innovation Board 100 ETF (588120), Robot Index ETF (159526), Science and Technology Innovation 100 ETF E Fund (588210), and Science and Technology Innovation 100 ETF Southern (588900) were among the top gainers.
On the disk, brokerage stocks broke out strongly, Jinlong shares took the lead in the daily limit, Guosheng Financial Holdings, Tianfeng Securities, Huaxin shares, and Capital Securities Pacific successively closed the board. The direction of financial technology rose synchronously, Tianli Technology and Fortune Trend 20cm, Flush and Compass rose by more than 10%, and Oriental Wealth rose by more than 7%.
On the news side, the China Securities Association plans to revise the evaluation methods for the practice quality of financial advisers of securities companies, improve the scientificity and adaptability of the evaluation, and better play the role of reputation incentives and constraints. The revision tightens the selection criteria for Class A brokers, increases the minimum requirements for the number of projects, and adjusts the weight of the number of projects from 5 points to 10 points.
Haitong Securities pointed out that (1) the development of new quality productivity under the requirements of the current internal and external environment is the only way to achieve high-quality development, and the current development of new quality productivity opportunities and challenges coexist. (2) Digital finance can promote the development of new quality productivity by promoting financial services to reduce costs and increase efficiency, optimize resource allocation, and give full play to technological spillover effects. (3) In the future, the new quality productivity of digital financial services may improve service efficiency and quality by improving digital infrastructure, increasing talent cultivation, and creating a safe environment.
In terms of declines, the power sector pulled back slightly
Dongguan Securities believes that the global power grid will increase investment, and the power transmission and distribution and control equipment industry will welcome new opportunities for development. Compared with 2022, the global installed renewable power generation capacity will triple by 2030, from 3,382GW to 11,174GW, and there is still huge room for growth in the future.
The National Energy Administration pointed out that since the beginning of summer, there have been continuous high temperature weather in many places across the country, and the maximum power load has risen rapidly, refreshing the highest record in history many times. On July 24, the country's maximum power load reached 1.451 billion kilowatts, a record high, and more than 100 million kilowatts compared with last year's maximum load. At present, 17 provincial-level power grids, including Beijing, Tianjin, southern Hebei, Mengdong, Shanghai, Jiangsu, Zhejiang, Anhui, Fujian, Jiangxi, Shandong, Henan, Hubei, Hunan, Guangdong, Hainan and Chongqing, have reached a record high. During the summer, the national power supply guarantee was strong and effective, and no orderly electricity consumption measures were taken in various places.
In terms of activity, the turnover of the cargo base rebounded sharply, and the small and medium-sized wide base attracted attention again
In terms of turnover, the turnover of Huabao Tianyi ETF (511990) reached 23.2 billion yuan, and the turnover of Yinhua Rili ETF (511880) reached 18.443 billion yuan. The turnover of the two bond ETFs exceeded 10 billion yuan again. The trading volume of CSI 1000 ETF (512100) entered the top 10.
In terms of turnover rate, the turnover rate of the benchmark Treasury bond ETF (511100) fell to 700%, and the turnover rate of the 1000 Enhanced ETF (561780) reached 164.56%. The turnover rate of equity ETFs has increased significantly.
In terms of the ETF issuance market, the dividend ETF product family welcomed a new member
Specifically, Wanjia Hong Kong Central Enterprises Dividend ETF (159333) will start raising tomorrow. Cathay Dividend Hong Kong Equity ETF (159331) will be listed tomorrow.
Guosheng Securities believes that the current A-share market is still in the bottom construction period, and the current and future expected increments mainly come from the value faction represented by insurance funds benefiting from the high increase in premiums, and the allocation preference is biased towards dividend value. Whether from the perspective of asset returns or dividend returns, the current dividend style is still advantageous in terms of valuation and price-performance ratio, and is optimistic about oil and gas, banks, highways and railways, and white goods.
Huaxin Securities believes that in the current environment of weak domestic economic fundamentals and turbulent overseas macro political situation, the concept of Hong Kong stock dividend central enterprises is a scarce and safe asset in the depression. In terms of policy, there are long-term policy orientations such as the New National Nine Articles to encourage dividends, and the expectation of Hong Kong Stock Connect dividend tax reduction and exemption policies, which are expected to guide funds to increase the allocation of Hong Kong stock dividend assets in the south.
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